Is it risky applying for a mortgage now?

csgohan4

Perhaps the blame lies elsewhere... You

You failed to tell your partner you are getting a mortgage and need to reduce spending and avoid overdraft/ debt. If you told her that maybe she would have held back. But to grill over 8 pounds left, shocking. Lenders look at your credit history not just based on one off.

Have you checked both your credit reports ? Do you have a deposit? Fees for mortgage? Their more important

-taff

If you both agreed that you were saving for a deposit then I can see how you'd become annoyed, if you didn't. then it's a bit pointless being annoyed.
Personally, I can see why you'd be annoyed, even if you've not been particularly tactful about it, if you have saved and she hasn't...
However, if shes only had a full time job for 3 months, then aso, pointless getting annoyed.

One thing though, you should both agree on what levels of savings or how you are splitting your payments, or joining finances etc before you buy a house, otherwise you'll both get annoyed with each others expcectations before you even start paying a mortgage.

I also wouldn't worry about letting the account get right down, as long as it's not o/drawn or you owe more than you earn etc, it's fine.

cha1n

csgohan4, what are you talking about? We were in agreement that we were saving. She spends most of her money every (20k salary with only £500 commited spending, rest is food and whatever crap she buys).

The main point is that I wasn't aware that you could let your account get low, so long as you didn't go into your overdraft. The scary thing is that she wasn't the slightest bit aware that she'd let her account get so low, it was pure luck that she never went into her overdraft. I'm glad I'd paid for our evening meal the day before now!

Jon_B_2

Potential lenders will be more concerned with the frequency of your evening meals out than how low in credit you go on a current account.

cha1n

Fair enough, I'll have to start paying for our food in cash!

benjus

cha1n wrote: »

The main point is that I wasn't aware that you could let your account get low, so long as you didn't go into your overdraft. The scary thing is that she wasn't the slightest bit aware that she'd let her account get so low, it was pure luck that she never went into her overdraft. I'm glad I'd paid for our evening meal the day before now!

Going overdrawn isn't necessarily a problem either, as long as it's an authorised overdraft. It depends on the bigger picture of your financial situation, how close you are to affordability limits, etc.

class2ldn

I've just got a mortgage with 30k of debt. This includes 2 car loans a credit card and being in an ogreed overdraft by around 1200.
I don't think you've got any major issues in regards to applying now.

Landofwood

Nothing wrong with letting your account go low. In fact limiting the amount of money in your main account is both more secure (fraudsters can't steal money that's not there) and profitable (best to keep excess money invested).

I doubt that you "read that you should not let your account go low 3-6 months before applying for a mortgage" as that would be complete nonsense. Clearly you misunderstood.

I hope you did not upset your partner and I hope you have apologised for your behaviour.

cha1n

Well wouldn't it just be great if she had secretly invested her excess money and left her account at £8 but the fact is she didn't, so no, I haven't apologised and no, I didn't upset her.

When I say grill, I mean I enquired as to how to managed to spend circa. £800 on food and other non-essential stuff, I didn't shout at her or anything, I'm not that type of person.

I can't tell if this forum is full of people fishing for confrontation or what, there's only been one person who's agreed that she was at fault.

Bottom line is that we were in agreement that we were saving for a house deposit and she managed to save £8 out of £800 and all we have to show for it is unnecessary items of clothing and d!cor. I will not contribute any further to this thread, can a mod lock it? Question answered, thanks to the (very) few who contributed with a useful comment. Much appreciated.

Jon_B_2

Well then quite clearly you are incompatible. Put her out of her misery and get a divorce.